XRP, in Correction Phase Before Final 5th Wave..."Preparing for Rise Towards $8"

▲ XRP/AI-generated image

XRP has entered one of its most critical technical phases this year. Cryptocurrency analyst Dark Defender analyzed that XRP's Elliott Wave structure on a 2-week chart has not yet broken down, and if the current trend holds, the 5th wave target price is above $8.

According to NewsBTC on May 22 (local time), Dark Defender stated, "XRP is moving within a large 5-wave structure," and "the current price movement is in the latter part of the 4th wave." According to Elliott Wave theory, the 4th wave is the second corrective phase before the final 5th wave extension, and the overall impulse wave structure must remain intact for the next upward phase to continue.

XRP is currently in a phase where its price fluctuation range is narrowing between a descending resistance line and an ascending support line. XRP touched the ascending support line in March, then formed several bullish candles on the 2-week chart, and the latest candle has again touched the descending resistance line. NewsBTC reported that this trend indicates that XRP's sideways movement is coming to an end.

Dark Defender presented the key support zone as $1.36 to $1.31. XRP is already trading near $1.36, so the defense of this zone is being tested in real time. If this support is clearly maintained, the bullish wave count will remain valid, but if it breaks, the likelihood of preparing for a 5th wave rally diminishes.

The short-term key decisive point is whether the descending resistance line is broken. Dark Defender stated that XRP could break above the orange resistance line and show a strong upward trend by the end of May. XRP has formed lower highs below a descending trendline since being rejected at $3.65 in July 2025, and this resistance line is currently around $1.47.

The projected path on the chart is for XRP to break $1.47 and then enter Fibonacci extension zones. The first major extension is the Fibonacci 161.80% extension level at $1.8818. Subsequently, the Fibonacci 361.80% extension level is at $3.5632, presented as a price level connected to the completion zones of the 3rd and 5th waves in a strong impulse wave structure. The final bullish target is the Fibonacci 644.40% extension level of $8.7822, marked as the 5th wave target price.

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